Income Received By Different Groups

For a clearer picture of the economic status of today’s older adults, it is helpful to look at breakdowns of statistics by age, marital status, gender, and race, in addition to looking at overall income figures.

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Income Differences by Age

In 2008, half of all individuals age 65 to 69 received less than $22,057 in yearly income, compared to the $16,491 received by people age 80 and older.

Table 3. Median annual income, by age

Age

Individuals, 2008

Households, 2008

Aged units, 2008

65+

$18,208

$31,157

$24,857

65-69

$22,057

$44,039

$35,257

70-74

$17,573

$30,966

$27,043

75-79

$22,578

80+

$16,491

$23,657

$19,412

 

Income Differences by Marital Status

In 2008, half of all married couples age 65 and over received less than $48,099 in yearly income, compared to $20,572 for nonmarried persons.

Table 4. Median annual income, by marital status, 65+

Demographic unit

Married couples

Nonmarried persons

Nonmarried men

Nonmarried women

Households, 2008

$48,099

$20,572

n/a

n/a

Aged Units, 2008

$43,087

$16,257

$26,057

$20,801

 

Income Differences by Gender

In 2008, half of all men age 65 and over received less than $25,344 in yearly income, contrasted with $14,429 for women.

Table 5. Median annual income, by gender, 65+

Gender

Individuals, 2008

Households, 2007

Men

$25,344

$40,185

Women

$14,429

$25,157

Total

$18,208

$31,157

 

Income Differences by Race and Ethnicity

In 2008, half of all Hispanics age 65 and older received less than $11,957 in yearly income, contrasted with $19,372 for whites.

Table 6. Median annual income, by race or ethnicity, 65+

Demographic group

Individuals, 2007

Households, 2007

White (Non-Hispanic)

$19,372

$32,514

African American

$14,357

$23,958

Hispanic

$11,957

$25,000

Total

$18,208

$31,157

 

  

For More Statistics on the Income of Older Adults:

  Note: Every effort has been made to include the latest available figures. If you know of more recent numbers, please let us know.